IFC provides US$10mn credit line to Tribanco

The International Finance Corporation (IFC) has issued a US$10mn credit line to Brazilian bank Banco Triangulo (Tribanco) for SME financing, the IFC said in a statement. The financing will be offered to SMEs in the form of 7-year long-term loans. The IFC funds will go to enhancing support of the supply chain of Tribanco's parent, local wholesale distributor Grupo Martins, the statement said. "Tribanco's financing is a key component of Grupo Martins' strategy to enhance competitiveness of its SME clients," the IFC added. The IFC is the private-sector arm of the World Bank Group.